The folks at EquityZen, a
marketplace for investors looking to buy shares from startup
employees, have been
tracking how all of Square's early investors have fared. They
collected data on all the investors in Square's funding rounds,
based on SEC filings, and put it together in a graphic based on
the $9 IPO share price.

Importantly, Series E investors negotiated for a guaranteed 20%
return upon an IPO, and so their stake is worth $180 million at
the time of the IPO (and over $250 million at
current trading levels). The negative returns on the right
side of the graphic do not account for that.

EquityZen

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